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Gold recovers on firm global cues

Gold recovers on firm global cues
PTI
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First Published: Mon, May 11 2009. 05 15 PM IST
Updated: Mon, May 11 2009. 05 15 PM IST
New Delhi: Gold prices on Monday recovered by Rs40 to Rs14,820 per 10 gram in the bullion market here on fresh buying by stockists and jewellery fabricators amid better global trend.
Silver also spurted by Rs435 to Rs22,635 per kg on increased offtake by industrial units.
Marketmen said fresh buying by stockists and jewellery fabricators to meet the ongoing marriage season demand and reports of firming global trend mainly led to the rise in gold prices.
Some funds were seen shifting from weakening equity to bullion for quick gains also supported the uptrend, they said.
Standard gold and ornaments recovered by Rs40 each to Rs14,820 and Rs14,670 per 10 gram respectively, but sovereign fell by Rs150 to Rs12,200 per piece of eight gram on reduced offtake.
Silver ready attracted brisk buying by stockists and spurted by Rs435 to Rs22,635 per kg and weekly-based delivery by Rs750 to Rs22,300 per kg respectively.
Silver coins also gained Rs400 to Rs29,000 for buying and Rs29,100 for selling of 100 pieces on heavy marriage season demand.
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First Published: Mon, May 11 2009. 05 15 PM IST
More Topics: Bullion | Gold | Markets | Stocks | Commodity |